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UNCTAD: Kuwait, Qatar and Lebanon maintain FDI despite global crisis

Wednesday, 28 July 2010 21:15

Kuwait, Qatar and Lebanon have managed to maintain the level of foreign direct investment (FDI), according to World Investment Report 2010.

Although global foreign direct investment (FDI) edged down by 24 percent to USD 68 billion in 2009, Kuwait, Qatar and Lebanon were exceptional cases, indicated the report - released by the UN Conference on Trade and Development (UNCTAD).

The value of Gulf Cooperation Council (GCC) investments fell by 39 percent to USD 23 billion in 2009. Saudi investments were not enough to make up for the negative impacts of the global financial crisis on Dubai, it added.

Foreign direct investment sharply shot down in Turkey and the United Arab Emirates (UAE) as export-characterized industries were dented by the fallout of the global financial crisis, the report noted.

The report ascribed the drop to what it called restrictions on international credit markets, and dwindling international trade.

GCC investors showed interest in new projects in Africa in an unequivocal competition with Chinese, India and Malaysian investors, it said. (KUNA)

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Last Updated on Wednesday, 28 July 2010 21:29

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